Budget - The amount of money set aside to meet needs and wants, Competing economic goals - People have different views on what the nation needs and how those needs should be met., Taxes - Money paid by citizens and businesses to support government services., Revenue - The money collected by the government through taxes and fees., Fees - Money paid for government services, registrations, and licenses., National Debt - The amount of money government borrows because spending exceeds revenue. , Interest - A percentage based fee charged in exchange for being able to borrow money., Government shut down - Non-essential government offices are shut down due to lack of funding., Nonessential - All government organizations not necessary for the government to function at a reduced level. Think of it like the a car engine operating on only 1 cylinder out of 4. The car will move, barely, not well, and not for long, but it will move.  , Appropriations - The amount of the budget set aside for individual government agencies and programs., Appropriations committee - House and Senate committees who decide how much funding different government department, agencies, and programs should receive from the budget., Conference committee - House and Senate must approve identical budget bills. Any differences are worked out in these committees.,

Budget process

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